Mortgages

Though the government-sponsored enterprises have some of the lowest forbearance rates in the market, they expect to contend with a significant population of borrowers who face steep financial setbacks after the pandemic ends.

The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.

The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.

Federal Housing Finance Agency Director Mark Calabria said he wants to work with the consumer bureau on an “exit strategy” for borrowers approaching the end of their forbearance periods.

The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.

The government sponsored enterprise’s latest forecast calls for a nearly $4 trillion year for 2021.

Also, even with bans in place, the total number of filings keeps inching up due to actions taken on vacant properties.

The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.

Rising cases and vaccine issues caused bond yields to fall, but inflationary pressures will likely reverse that course.

Oaktree Re VI 2021-1 will market $531 million in CRT notes that will provide NMI with partial reinsurance on a $45B pool of GSE-eligible loans.

Gensler is poised to confront everything from the fallout of the GameStop trading frenzy to the collapse of Archegos Capital Management.

But the percentage of weekly applications in that category was closer to 60%, the Mortgage Bankers Association found.

The diverse group of loans in the servicing rights portfolio offers a potentially attractive recapture opportunity and would be a sizable transaction for their era.

However, the decline in Black Knight’s numbers may stem from a previous deadline that policymakers have since extended.

Deals, trends and research in structured finance and asset-backed securities for the week of April 2-8

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.

Mortgage rates that are rising in tandem with a recovering economy dampened borrower activity, even with prime homebuying season underway.

The increase won’t hurt the incentive for the average home shopper, but it means those who were looking to “buy the dip” in prices amid the pandemic may have missed their chance.

One official at the bureau said this fall could be an “unusual point in history” for the mortgage market as delinquent borrowers exit forbearance plans. The agency proposed new steps for servicers to help consumers stay in their homes.

Deals, trends and research in structured finance and asset-backed securities for the week of March 26-April 1